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The regulator has discouraged the lending activity

发布时间:2017-04-05 13:29:54
The recent data shows the property prices continuing to soar in Sydney and Melbourne, and the house prices in Sydney has experienced the fastest annual pace during the last 15 years to almost 19 percent. The Australian bank regulator has discouraged the lending activity concerning the housing bubble. The chairman Greg Medcraft of Australian Securities and Investments Commission (ASIC) is worrying about the negative impact of surging in interest rate to house buyers. He pointed out a big concern was when interest rate rise rapidly people cannot afford to pay their mortgage and then forced to sell into a market where house prices were falling, making the Australian market expose to great risk of sub-crime crisis like US in 2007.